Net Present Value (NPV) method, Internal Rate of Return (IRR) method, Equivalent Annual Annuity (EAA) method and Payback Period method are the main important decision-making tools for corporate investment. Please address the following in your answer.

- Investment decisions and the process

- decision making tools listed above

- advantages and disadvantages of these decision making tools

- use of EAA method

- conflict between NPV and IRR

- why NPV method should be used when there is a conflict

- capital rationing

- the affect of these on decision making